Aperio Group LLC increased its holdings in Insmed Incorporated (NASDAQ:INSM) by 21.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,402 shares of the biopharmaceutical company’s stock after buying an additional 1,977 shares during the period. Aperio Group LLC’s holdings in Insmed were worth $292,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of INSM. Strs Ohio purchased a new stake in Insmed in the first quarter worth about $75,000. NumerixS Investment Technologies Inc purchased a new position in shares of Insmed during the first quarter valued at approximately $106,000. Shell Asset Management Co. purchased a new position in shares of Insmed during the first quarter valued at approximately $273,000. Millennium Management LLC purchased a new position in shares of Insmed during the fourth quarter valued at approximately $146,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Insmed during the second quarter valued at approximately $387,000.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Insmed from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday, July 17th. BidaskClub raised shares of Insmed from a “strong sell” rating to a “sell” rating in a research report on Thursday. Goldman Sachs Group initiated coverage on shares of Insmed in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $30.00 target price for the company. Credit Suisse Group reaffirmed a “buy” rating and issued a $40.00 target price on shares of Insmed in a research report on Tuesday. Finally, ValuEngine raised shares of Insmed from a “hold” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. Insmed has a consensus rating of “Buy” and an average price target of $36.63.
In related news, CEO William Lewis sold 400,000 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $26.00, for a total transaction of $10,400,000.00. Following the completion of the sale, the chief executive officer now owns 480,672 shares of the company’s stock, valued at $12,497,472. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.95% of the company’s stock.
INSM stock traded down $0.18 during mid-day trading on Friday, reaching $18.83. The company had a trading volume of 8,075 shares, compared to its average volume of 890,791. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.54 and a quick ratio of 7.31. The company has a market capitalization of $1.62 billion, a PE ratio of -4.56 and a beta of 2.98. The firm has a 50 day moving average of $17.65 and a 200 day moving average of $25.06. Insmed Incorporated has a 12 month low of $11.31 and a 12 month high of $33.13.
Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.04. The business had revenue of $30.00 million during the quarter, compared to analysts’ expectations of $26.30 million. Analysts anticipate that Insmed Incorporated will post -3.02 EPS for the current year.
Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.
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